The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Receives $35.80 Average Target Price from Analysts

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) has earned an average recommendation of “Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued a report on the stock in the last year is $35.80.

A number of research firms recently issued reports on NTB. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price target (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Raymond James reaffirmed an “outperform” rating and set a $36.00 price target (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th.

Bank of N.T. Butterfield & Son Stock Performance

NTB opened at $34.51 on Monday. The firm has a market cap of $1.73 billion, a P/E ratio of 7.76 and a beta of 1.24. Bank of N.T. Butterfield & Son has a 1-year low of $24.62 and a 1-year high of $36.06. The company has a 50 day simple moving average of $32.70 and a two-hundred day simple moving average of $30.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.66 and a quick ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.21. The business had revenue of $142.80 million during the quarter, compared to analyst estimates of $137.28 million. Bank of N.T. Butterfield & Son had a net margin of 27.95% and a return on equity of 23.18%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 earnings per share. Equities analysts forecast that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 7th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend was Monday, May 6th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 39.55%.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the first quarter valued at $44,000. TFO Wealth Partners LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 18,890.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock valued at $61,000 after acquiring an additional 1,889 shares during the period. EMC Capital Management raised its stake in shares of Bank of N.T. Butterfield & Son by 23.8% in the first quarter. EMC Capital Management now owns 5,688 shares of the bank’s stock valued at $182,000 after acquiring an additional 1,092 shares during the period. SG Americas Securities LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 16.2% in the first quarter. SG Americas Securities LLC now owns 6,455 shares of the bank’s stock valued at $206,000 after acquiring an additional 898 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Bank of N.T. Butterfield & Son by 304.3% in the third quarter. Nisa Investment Advisors LLC now owns 8,636 shares of the bank’s stock worth $234,000 after purchasing an additional 6,500 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.